Cultivo, a public benefit corporation focused on regenerating nature through high-quality projects, has successfully raised $14 million in a Series A funding round led by MassMutual Ventures and Octopus Energy Generation, the company said in a statement Tuesday.
The capital injection brings Cultivo’s total funding to over $20 million and will enable the company to further advance its mission of attracting investments into large-scale, nature-based carbon removal initiatives.
Cultivo’s pipeline of nature-based carbon removal projects now exceeds 100 million hectares, surpassing the land size of California.
This is equivalent to the potential removal of more than 3 gigatons of carbon dioxide (CO2), a figure roughly matching the annual carbon emissions of the European Union in 2022.
Cultivo co-designs and monitors high-quality projects focusing on carbon capture, biodiversity enhancement, water storage, and positive social impact on local communities.
Mark Carney, former governor of the Bank of England, recently joined Cultivo’s board, signifying a notable endorsement of the company’s mission.
Additionally, as part of the funding round news, Cultivo has entered into an agreement with Octopus Energy Generation, with plans to deploy up to $40 million into natural capital projects across North America, Europe, and Australasia.
Dr. Manuel Piñuela, CEO and co-founder of Cultivo, expressed gratitude for the support, emphasizing the investors’ recognition of the natural capital investment opportunity.
He highlighted the significance of the funding in sustaining the delivery of high-quality natural capital projects and accelerating the development of their AI-driven science and technology platform.